This page reflects MTDR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — MTDR
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $50.00 (7.24 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$50.00
Nearest expiry
Expected Move
±$2.02
±3.5%
Days to Expiry
3
Calendar days
Total Call OI
4,699
Nearest expiry
Total Put OI
2,046
Nearest expiry
P/C OI Ratio
0.44
Put-heavy
Spot Price
$57.24
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-06-18
$50.00
6/18/2026, 11:22:35 PM
2026-07-17
$52.50
7/17/2026, 11:22:28 PM
2026-08-21NextUpdated
$50.00
8/18/2026, 11:28:41 PM
2026-09-18
$50.00
8/18/2026, 11:28:41 PM
2026-11-20
$47.50
8/18/2026, 11:28:41 PM
2026-12-18
$52.50
8/18/2026, 11:28:41 PM
2027-01-15
$45.00
8/18/2026, 11:28:41 PM
2027-03-19
$50.00
8/18/2026, 11:28:41 PM
Selected expiration: 2026-08-21 at max pain $50.00.
MTDR pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
30
0
3366500
3366500
32.5
0
2854500
2854500
35
0
2342500
2342500
37.5
0
1830500
1830500
40
0
1318750
1318750
42.5
0
809500
809500
45
0
308000
308000
47.5
500
148000
148500
50
37750
73500
111250
52.5
106000
8250
114250
55
342750
1250
344000
57.5
1108250
500
1108750
60
1936750
0
1936750
62.5
2840750
0
2840750
65
3748000
0
3748000
70
5578000
0
5578000
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.